Official statistics on the Help to Buy equity loan scheme and Help to Buy: NewBuy scheme.
This statistical release presents Official Statistics on the number of home purchases and the value of equity loans under the government Help to Buy equity loan scheme, as well as the number of purchases under the government’s Help to Buy: NewBuy scheme (formerly known as ‘NewBuy’). It does not cover statistics regarding the Help to Buy mortgage guarantee scheme.
This is the first release concerning Help to Buy equity loan statistics. The figures presented in this release cover the first 6 months of the scheme, from the launch of the scheme on 1 April 2013 until 30 September 2013.
It subsumes the previous statistical releases on the Help to Buy: NewBuy scheme as it covers a similar government scheme that supports home ownership.
The main points were:
- in the first 6 months (to end September) there were 5,375 properties bought with the support of the Help to Buy equity loan scheme
- the total value of these equity loans was £208 million, with the value of the properties sold under the scheme totalling £1.04 billion
- the average price of a property bought under the scheme was £194,167, with an average equity loan of £38,703
- the majority of home purchases in the Help to Buy equity loan scheme was made by first time buyers, accounting for 4,948 (92%) of total purchases
- for the Help to Buy: Newbuy scheme, 676 home purchases were made in quarter 3, 2013; this brings the total number of house purchases up to 4,450 since the launch of the scheme in March 2012
Subsequent releases will be published on a quarterly basis. The second release, covering the period 1 October 2013 to 31 December 2013, will be published in February 2014.